Joking around with President Obama wasn’t the only political matter Stephen Colbert addressed on Monday’s Late Show. The comedian targeted Republican nominee Donald Trump’s latest, and most dangerous, conspiracy theory — that the presidential election is rigged against him — during the show’s opening monologue. “So fraudulent voters, the media, drugs and women are all against Trump, but that’s just the tip of the iceberg,” said Colbert. “Trump knows these accusations of sexual misconduct are really being concocted by sinister forces.”

“Let me break this down for you. This sex scandal, or this ‘supposed sex scandal,’ can all be explained with a Venn diagram,” Colbert told his audience, whose laughter at the resulting diagram nearly drowned him out. “According to Donald Trump, the media is colluding with the Clinton machine. And, stay with me, the Clinton machine is colluding in secret with international bankers and special interests. All to pave over the anti-Clinton revelations in Wikileaks and point the blame directly at Donald Trump.”

There you have it, folks. Everything about this giant conspiracy against Trump’s presidential campaign and the people who support it can be explained by one giant thing that — due to FCC regulations — cannot be aired on broadcast television without a forced blur. (i.e. A big ol’ dick and balls.)